Global Stocks Plummet Amid US Retail Sales Disappointment

Stock markets worldwide experienced a cautious trading session on Friday as investors remained concerned about the uncertain outlook for the Middle East conflict and the US economy.

The S&P 500, which had hit a new record high on Thursday, slipped into negative territory, while most European indexes closed lower after a mixed performance in Asia.

Weaker-than-expected US retail sales data released on Friday raised concerns about the prospects for the world's largest economy. Total US retail sales were down 0.6% in July from the previous month, reaching $763.6 billion, while consumer sentiment dropped by around eight percent in August, ending two months of gains.

Although some analysts expect the Federal Reserve to maintain its dovish stance on interest rates due to the economic uncertainty, others warn that consumers will need to continue spending to keep the economy resilient.